The pullback in energy prices and pickup in M&A activity were encouraging to analysts, who were not distressed by the day's lackluster trading. After three solid weeks of gains, and in the absence of any new economic data, it's natural for investors to take a step back.

"People are trying to figure out what's next for the market," said Dean Junkans, chief investment officer for Wells Fargo Private Client Services. "We've had a nice run, post-election ... I think people are looking for that year-end rally, and wondering whether we've already gotten a bunch of it of if we've got more to run. I think we've got more to run."

According to preliminary results, the Dow Jones industrial average finished up 11.23, or 0.11 percent, at 10,550.24, after a gain of 1.46 percent last week.

The broader gauges were narrowly mixed. The Standard & Poor's 500 index was down 0.36, or 0.03 percent, at 1,183.81, following a 1.54 percent rise. The Nasdaq composite added 8.75, or 0.42 percent, to 2,094.09, after a weekly gain of 2.28 percent.

Oil prices dropped, continuing a three-week trend that has taken crude futures down from their record $55-per-barrel level. Light, sweet crude for December delivery shed 52 cents to $46.87 on the New York Mercantile Exchange.

Investors were also weighing the resignations of four members of President Bush's Cabinet following the election, including Secretary of State Colin Powell and Energy Secretary Spencer Abraham. Including the latest resignations, six members of the president's 15-member Cabinet have announced plans to step down for his second term.

The day's news seemed to have little impact on trading, as institutional investors focused on technical levels after equities jumped 8 percent over the last three weeks. Still analysts noted that the market is entering a seasonally strong period, which may help keep stocks aloft through the end of the year.

"We're due to kind of settle in on a short-term basis," said Steven Goldman, chief market strategist at Weeden & Co. in Greenwich, Conn. "Three weeks ago we were at the lower end of the move over the past year and now we're at the upper end. So we've completed the lows to the highs in a matter of three weeks. But historically it's a lot easier to get a market going this time of year."

General Electric Co. fell 15 cents to $36.10 after announcing plans to buy SPX Corp.'s Edwards Systems Technology fire-and-security unit for nearly $1.4 billion in an all-cash deal, both companies said today. SPX Corp. rose $1.22, or 2.8 percent, to $44.21, on the news.

Wrigley added 72 cents to $68.08 after the candy and gum maker announced an agreement to buy several brands, including Life Savers and Altoids, from Kraft for $1.48 billion. Kraft declined 20 cents to $34.68.

Dow Jones & Co., publisher of The Wall Street Journal, added 10 cents to $45.10 after announcing plans to buy MarketWatch Inc. for about $519 million in a deal that would end a monthlong bidding war for the online financial news and information provider. MarketWatch, which operates two Web sites, CBS.MarketWatch.com and BigCharts.com, closed up $1.33, or 7.9 percent, at $18.12.

Declining shares slightly outnumbered advancers on the New York Stock Exchange.